Exploratory Well Costs

3 Months Ended

Mar. 31, 2023

Capitalized Exploratory Well Costs [Abstract]

Exploratory Well Costs

Exploratory Well Costs

EOG's net changes in capitalized exploratory well costs for the three-month period ended March 31, 2023, are presented below (in millions):

	Three Months Ended March 31, 2023
Balance at January 1	$	15
Additions Pending the Determination of Proved Reserves	4
Reclassifications to Proved Properties	(5)
Costs Charged to Expense	—
Balance at March 31	$	14

	Three Months Ended March 31, 2023
Capitalized exploratory well costs that have been capitalized for a period of one year or less	$	13
Capitalized exploratory well costs that have been capitalized for a period greater than one year (1)	1
Balance at March 31	$	14
Number of exploratory wells that have been capitalized for a period greater than one year	1

(1)Consists of costs related to a project in the United States at March 31, 2023.